South Korean stocks dropped 1.48 percent Wednesday, as investors again awoke to the fact that the U.S. central bank will soon start winding down its stimulus scheme, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 28.29 points to close at 1,878.33. Trading volume was moderate at 307.7 million shares worth 3.49 trillion won ($3.12 billion) with decliners far outstripping gainers 550 to 256. "Concern on reduction of the U

The main opposition Democratic Party on Wednesday batted away President Park Geun-hye’s proposal on talks to resolve the standoff over the National Intelligence Service. The party turned down Cheong Wa Dae’s counteroffer for an expanded five-person meeting, reiterating its call for one-on-one talks between Park and DP leader Kim Han-gil. An immediate compromise appeared distant as the presidential office remained equally resolute that Park was only willing to discuss administration-related affai

The chief of Woongjin Group, a troubled mid-size conglomerate, has been charged with fraudulently issuing commercial paper worth around 119.8 billion won ($107 million) to avoid bankruptcy, prosecutors said Wednesday.Yoon Seok-keum, the group‘s founder and chairman, allegedly orchestrated the commercial paper issuance worth 100 billion won under the name of the group’s parent company from July to August of last year even with prior knowledge that the group had lost its ability to pay back its de

A sentencing for the convicted chairman of one of the country's largest conglomerates, SK Group, in an appeals trial has been postponed to Sept. 13, court officials said Wednesday.Chey Tae-won, 53, is currently undergoing appeals after being sentenced to four years behind bars by a lower court in January for embezzling nearly 50 billion won (US$45 million) in company funds to make personal investments in stock futures and options.The Seoul High Court had originally planned to deliver the verdict

South Korea routed Kazakhstan 71-47 to reach the quarterfinals at the Asian men's basketball championship on Tuesday.Guards Kim Min-goo and Kim Sun-hyung each scored a team-high 14 points, and forward Cho Sung-min chipped in 12 points in second-round action of the FIBA Asia Championships for Men at the Mall of Asia Arena in the Philippines.South Korea improved to 3-1 in the tournament and is ranked second among six nations in Group F, behind the 4-0 Iran. The top four teams from the group will r

A group of Navy officers and families of fallen soldiers will seek a court injunction against a controversial documentary that casts doubts on a multinational team's conclusion that North Korea was responsible for the sinking of the Cheonan warship, a senior official said Wednesday."Project Cheonan Ship," which is directed by independent filmmaker Baek Seung-woo and produced by Chung Ji-young, challenges the South Korean government's claim that the North is responsible for torpedoing a navy vess

Assets held by Samsung Electronics Co., South Korea's top conglomerate by market cap, topped 200 trillion won (US$180 billion) as of end-June this year mainly due to its stellar business performance, data showed on Wednesday.Samsung's assets reached 203.76 trillion won at the end of June, up 12.92 trillion won from three months earlier. The end-June figure is also up 37.46 trillion won from a year earlier, according to its financial statement.Samsung Electronics, the world's top maker of memory

South Korean stocks began lower Wednesday as investors were unnerved by the U.S. signaling another cut in economic stimulus, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 14.70 points, or 0.77 percent, to 1,891.92 in the first 15 minutes of trading. Most large caps lost ground, led by market bellwether Samsung Electronics falling 1.7 percent and leading automaker Hyundai Motor dipping 2.6 percent. Financial blue-chips also moved downward. Shinhan Financial shed

South Korean filmmaker Bong Joon-ho's English language debut film, "Snowpiercer," has attracted more than 4 million viewers in seven days of opening, its local distributor said Wednesday.The film, starring top Korean actor Song Kang-ho alongside Hollywood thespians Chris Evans, Ed Harris and Tilda Swinton, attracted an accumulated total of just over 4 million viewers on Tuesday, according to CJ Entertainment.It took only seven days for the flick to surpass the milestone after opening, which if c

The government has concluded a years-long controversy over the feasibility of setting up duty-free shops near airports’ arrival gates and terminals. In a meeting with other economic policymakers in Seoul on Wednesday, Deputy Prime Minister and Finance Minister Hyun Oh-seok said a policy revision for duty-free shops at arrival zones would only increase congestion and unfairness in taxation between the rich and poor. Simply put, the cost of disadvantages would outweigh the cost of benefits to the

Amazon.com CEO Jeff Bezos is revered as one of the brightest minds in corporate America, but even he is still puzzling over how to reverse the financial slide threatening The Washington Post and other major U.S. newspapers.Nevertheless, Bezos is determined to face the challenge, raising hope that his $250 million purchase of The Washington Post announced Monday will provide the newspaper industry a template for making the leap from the printed page to digital devices.“The marriage between the ne

Foreigners became net buyers of local stocks last month after their net selling hit a nearly two-year high in June, mainly due to the U.S. Fed chairman's hint at maintaining its monetary stimulus policy, the financial regulator said Wednesday. Overseas investors bought a net 1.34 trillion won ($1.16 billion) worth of local shares in July, a turnaround from the 5.14 trillion-won net purchase a month earlier, according to the Financial Supervisory Service (FSS). The value of foreign investors' sha

Chinese scientists have found the strongest evidence yet that a new bird flu strain is sometimes able to spread from person to person, but they are emphasizing that the virus still does not transmit easily.The new bird flu strain, known as H7N9, was first reported by Chinese authorities in March. As of the end of May, there were 132 cases and 37 deaths in China and Taiwan linked to the virus. Health officials suspect patients were most likely infected by birds in live animal markets but acknowle

An unexpected turn of events occurred last Saturday in the three-year legal battle saga between Samsung and Apple. Since 2011, the two digital giants have been engaged in more than 30 legal proceedings in more than a dozen jurisdictions worldwide claiming patent infringement. And now the plot thickens as the U.S. government enters the fray between the two private corporations.So came the veto by the Obama administration of the United States International Trade Commission’s June ruling in favor o

투개월 김예림은 6일 오후 투개월 공식 페이스북(https://www.facebook.com/Togeworld)을 통해 9월중에 자신의 두번째 미니앨범이 발매될 계획이라고 발표했다.김예림은 “열심히 녹음 중이니까 9월을 기대해달라”는 글과 함께 사진을 게재했다.사진 속에서 김예림은 가벼운 화장과 편안한 옷차림으로 녹음 작업에 집중하고 있는 모습이다.한편, 김예림이 새 앨범을 발표하는 9월에는 싸이, 버스커버스커, 아이유 등 대형 가수들이 컴백을 준비하고 있는 것으로 알려졌다.<관련 영문 기사>[Photo News] Lim Kim to release new album in September Singer Lim Kim announced Tuesday that she will release her second mini-album as a solo artist next month. “My second mini-album is slated to come out in September. I’m

 LG 전자측에서 최근 미국의 IT전문 매체인 테크크런치가 “LG로부터 돈을 줄 테니 리뷰를 써달라는 제안을 받았다”고 한 주장에 대해 “그런적이 없다”고 부인했다.LG 전자의 한 관계자는 코리아헤럴드와의 이메일 인터뷰를 통해 리뷰를 사겠다고 한 것이 아니라 광고를 문의한 것이었다고 해명했다.이 관계자는 “광고대행사 BM이 테크크런치 광고국에 스폰서 패키지를 문의했고, 광고국에서는 에디토리얼팀에 연락하라고 가이드를 해줬다”면서 이메일에 문의내용이 광고후원 관련이라는 점을 명시했다고 밝혔다.그는 또한 광고후원 관련해서 이러한 문의나 협의를 하는 것은 일상적인 프로세스라면서 “오해에서 빚어진 해프닝으로 보인다”고 강조했다.테크크런치의 존 긱스 기자는 5일, LG전자의 홍보를 맡고 있는 버스 마스텔라 코리아 측의 일원이 ‘돈을 줄 테니 LG G2의 리뷰를 써달라”고 이메일을 통해 청탁했다고 폭로했다.긱스 기자에 따르면 이 제안에는 스마트폰의 특정한 기능들을 리뷰하거나, 다른 다양한 장치들

South Korean stocks declined 0.5 percent Tuesday, led by losses in tech and steelmakers, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 9.6 points to close at 1,906,62. Trading volume was light at 286.3 million shares worth 3.32 trillion won (US$2.97 billion) with decliners outnumbering gainers 473 to 312. "A slew of upbeat economic indexes here and abroad since last week drove up the KOSPI. But this week's been

President Park Geun-hye on Tuesday suggested expanded talks with the leaders of the ruling and main opposition parties, in effect agreeing to Saenuri Party Chairman Rep. Hwang Woo-yea’s suggestion made Monday. (The president) suggests five-person talks, including the ruling and opposition floor leaders as there are many issues within the parliament,” new presidential chief of staff Kim Ki-choon said. Kim Ki-choon also said that Park suggested meeting the parties’ leaders on several occasions, an

The number of public officials in South Korea is likely to exceed the 1 million mark this year due to the government's pledge to increase police officers to guarantee public safety and security, data showed Tuesday. According to the data compiled by the Ministry of Security and Public Administration, the number of civil servants under the central and local governments amounted to 991,481 as of the end of June, up 1,058 from the end of 2012.Of all civil servants, some 61.7 percent work under the

LG 전자가 차세대 스마트폰 ‘LG G2’의 출시를 앞두고 무리한 홍보를 하다가 구설수에 휘말렸다.미국의 온라인 IT 매체 테크크런치의 존 긱스 기자는 5일, LG전자의 홍보를 맡고 있는 버스 마스텔라 코리아 측의 일원이 ‘돈을 줄 테니 LG G2의 리뷰를 써달라”고 이메일을 통해 청탁했다고 폭로했다.긱스 기자에 따르면 이 제안에는 스마트폰의 특정한 기능들을 리뷰하거나, 다른 다양한 장치들과 G2폰와의 “과격하고 정신나간 1대1 비교” 등이 포함되어 있었다고 한다. 그는 “내가 테크 전문 사이트에서 글을 써온 수년간 이렇게 지독한 뇌물수수 제안은 처음 경험한다”며 독자들에게 모든 리뷰가 이런 과정을 거치지는 않다고 강조했다.그는 LG G2의 발매가 이 사건으로 인해 엉망이 될지도 모른다면서 “G2는 이미 더렵혀졌고 실패할 것 (will sink)”이라고 덧붙였다. (코리아헤럴드)<관련 영문 기사>‘LG attempted to buy reviews for new phone’LG Ele